Wataniya: subscriber growth boosts revenues

Kuwaiti telco Wataniya Telecom has posted a 40% rise in revenues for the nine months to the end of September, to KWD307.9 million (USD1.06 billion). CommsUpdate reported on Friday that net profits had jumped 22% to KWD50.1 million (USD172.3 million). The firm has seen customer numbers at its operations in Kuwait, Algeria, Tunisia, Iraq, Saudi Arabia and the Maldives grow from 5.21 million last September to 8.84 million this year, with 2.82 million subscribers in Tunisia, 2.54 million in Iraq, 2.35 million in Algeria, 1.02 million in Kuwait and a total of 95,000 split between Saudi Arabia and the Maldives. The firm’s chairman, Faisal Al-Ayyar, said: ‘The company continues to enjoy extremely healthy collective results as ARPU has increased in every one of our operations and as we challenge ourselves to achieve greater performance.’